CLEARANCE APPLICATION BY JAS UK HOLDING LIMITED FOR THE PROPOSED ACQUISITION OF PENTAGON HOLDINGS LIMITED
The Independent Consumer and Competition Commission (“ICCC”) wishes to inform the general public and relevant industry stakeholders that it has commenced public consultations on the Clearance Application received from JAS UK Holding Limited (“JAS”) in respect of the proposed acquisition of Pentagon Holdings Limited (“Pentagon”) (the “Proposed Acquisition”).
JAS UK Holding Limited is a newly incorporated holding company in the United Kingdom. It is a wholly owned subsidiary of JAS Worldwide Holding Inc., which is ultimately owned by JAS Worldwide, Inc. (JAS), a global logistics provider headquartered in Atlanta, USA. The JAS group operates in over 50 countries, providing freight forwarding and logistics services across air, sea, road and rail. JAS UK Holding Limited itself does not currently carry on any business or operate in Papua New Guinea (“PNG”).
Pentagon Holdings Limited, on the other hand, is a UK-incorporated company and the parent company of a global freight forwarding group with operations in more than 30 countries worldwide, including PNG. Headquartered in Dartford, UK, Pentagon provides freight forwarding, logistics, customs clearance, project logistics, supply chain solutions, and related services. In PNG, Pentagon provides freight forwarding, logistics, and related services across air, sea/ocean, and road transport, supporting sectors such as oil and gas, mining, renewables, marine, and construction.
According to the Clearance Application, JAS is proposing to acquire 100 percent of the shares in Pentagon Holdings Limited. Post-acquisition, Pentagon and its subsidiaries would be wholly owned by JAS UK Holding Limited.
JAS has sought Clearance from the ICCC as the transaction value of the Proposed Acquisition is more than K50 million; and the target has existing business operations in PNG.
The ICCC hereby invites submissions and comments from interested stakeholders on any likely adverse competition effects the Proposed Acquisition may have on the freight forwarding and logistics sector in PNG. All submissions provided to the ICCC will be treated as public information unless a specific request for confidentiality is expressly made.
All comments and submissions should be addressed to Mr. Paulus Ain, Commissioner and Chief Executive Officer, at the address provided below and must reach the ICCC by or before 2nd September 2025.
The non-confidential version of the Application, including details of the Proposed Acquisition, can be accessed and downloaded from the ICCC website: www.iccc.gov.pg.
All queries relating to this matter should be directed to Mr. Steven Sugl, Executive Manager – Competition and Law Enforcement Division on telephone 312 4642 or e-mail to: ssugl@iccc.gov.pg.